Beijing, China has said that it will retain the anti-dumping duties on imports of o-chloro-p-nitroaniline originating in India for another five years. According to a Ministry of Commerce (MOFCOM) announcement here on Monday, the duties will be extended for another five years starting from February 13.
China first imposed the duties for five years as of February 12, 2018 at rates of 31.4-49.9 per cent.
MOFCOM's investigations found that India has strong production capacity in this yellow crystalline powder, which is mainly used in dyes, and that there is serious overcapacity, with two-thirds of it relying on exports to overseas markets, state-run Global Times reported.
Between 2018 and September 2022, India still exported the products to China by dumping, accounting for all of China's imports of o-chloro-p-nitroaniline, which had left Chinese enterprises in a state of unstable production and operation, and susceptible to the impact and influence of dumped imported products, the Ministry said.
India has the most anti-dumping investigations against China, the report said.
According to the MOFCOM website, from 1995 to 2023, India initiated 336 anti-dumping investigations against China.
In late September last year, within 10 days, India launched 13 anti-dumping investigations against China, while China has launched 12 anti-dumping investigations against India, from 1995 to 2023 mainly in the chemical field, the report said.
India-China trade continues to remain high despite bilateral tensions over the eastern Ladakh military standoff as the total trade last year climbed to a record USD 136.2 billion last year with India's trade deficit mounting to USD 99.2 billion, a tad lower than last year.
China's exports to India stood at USD 117.7 billion, a bit lower compared to USD 118.5 billion last year, according to the annual trade data covering the period from January to December 2023 released by Chinese customs last month.
The trade deficit, a major concern of India for years, stood at USD 99.2 billion in 2023. In 2022 the trade deficit scaled to over USD 101 billion for the first time crossing USD 100 billion.
Source Name :Economic Times